Broadcom (NASDAQ:AVGO) Shares Up 3.4%

Broadcom Inc. (NASDAQ:AVGO) shot up 3.4% during trading on Monday . The stock traded as high as $1,820.92 and last traded at $1,794.32. 2,856,480 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 2,907,839 shares. The stock had previously closed at $1,735.04.

Analyst Upgrades and Downgrades

Several research firms have commented on AVGO. Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Melius began coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $1,850.00 price target for the company. Mizuho upped their price target on shares of Broadcom from $1,625.00 to $1,900.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Jefferies Financial Group upped their price target on shares of Broadcom from $1,550.00 to $2,050.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,658.00 price target on shares of Broadcom in a research note on Monday, June 10th. Three analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,667.48.

Broadcom Trading Down 1.4 %

The stock has a market cap of $839.05 billion, a price-to-earnings ratio of 77.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.25. The company’s 50 day simple moving average is $1,379.34 and its two-hundred day simple moving average is $1,267.74.

Broadcom’s stock is scheduled to split before the market opens on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly created shares will be payable to shareholders after the market closes on Friday, July 12th.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 earnings per share for the quarter, beating the consensus estimate of $10.78 by $0.18. The firm had revenue of $12.49 billion for the quarter, compared to analyst estimates of $12.06 billion. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The company’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.51 EPS. Research analysts expect that Broadcom Inc. will post 36.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 24th will be paid a dividend of $5.25 per share. The ex-dividend date is Monday, June 24th. This represents a $21.00 annualized dividend and a dividend yield of 1.17%. Broadcom’s dividend payout ratio (DPR) is 90.32%.

Insider Transactions at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 26,770 shares of company stock worth $36,242,096 in the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Trading of Broadcom

Large investors have recently modified their holdings of the company. Pathway Financial Advisors LLC boosted its holdings in shares of Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after buying an additional 93 shares during the period. Todd Asset Management LLC boosted its holdings in shares of Broadcom by 26.3% during the 4th quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after buying an additional 16,608 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Broadcom by 3.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after buying an additional 91 shares during the period. Barry Investment Advisors LLC bought a new stake in shares of Broadcom during the 4th quarter worth $228,000. Finally, Stegent Equity Advisors Inc. bought a new stake in shares of Broadcom during the 4th quarter worth $271,000. 76.43% of the stock is owned by institutional investors.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.